Investment in Energy expected if FYROM name issue is resolved

The European Bank for Reconstruction and Development (EBRD) intends to support Skopje and Athens in practice, provided that the FYROM name dispute is resolved.

In fact, much interest is shown in the Energy industry, in particular, gas transport infrastructure, aiming to strengthen cross-border cooperation among SE European states.

Speaking to Reuters, deputy chairman of the European Bank for Reconstruction and Development Pierre Heilbronn said the solution of the name dispute “may allow the release of funds to support multiple projects; both sides want tangible investments.”

The agreement between Athens and Skopje, as he stressed, may trigger the interest of other potential investors in the Balkans. The next necessary step is the ratification of the Prespes agreement by the parliaments of both sides, Athens and Skopje.

The European Bank for Reconstruction and Development did not reveal the amount of funds it intends to make available for the Energy sector, it simply made known that there is just as much interest in the Transport sector.

In any case, within the next three years, according to Pierre Heilbronn, the European Bank for Reconstruction and Development will release EUR 900 million in capital annually to promote investment in the Western Balkans, including FYROM, Serbia, Bosnia and Herzegovina, Montenegro, Albania and Kosovo.

In 2017, investment amounted to EUR 630 million in Greece and EUR 50 million in FYROM./IBNA